Expert opinions, TECHNOLOGY

Top 6 manufacturing technology trends impacting 2024 sales growth

The field of production continues to change rapidly. This is facilitated by the growing popularity of new technologies and some other trends that we will talk about in the article. According to these trends, more companies are changing the way they do business.

Knowing industry trends helps directors make better production plans. Today, in times of global uncertainty, it is especially important to test new technologies and solutions, primarily those that are already successfully used by other production companies.

This article contains several important global trends that the heads of production enterprises should know not only abroad, but also in Russia. Considering these trends during strategic planning can help companies become market leaders and gain a foothold in this position.

1. Intelligent production

Today we are at the center of the fourth industrial revolution, driven by intelligent automation and the Internet of Things (IoT). In such conditions, manufacturers are forced to introduce “smart” solutions.

The future of production is influenced by the convergence of IT and operational technologies, as well as an increase in automation capabilities through artificial intelligence (AI). Automated processes, integrated systems, advanced maintenance capabilities, and optimized operations in general will force companies to invest even more in intelligent manufacturing.

From the point of view of technology for organizing interaction with customers and partners, the future lies in adaptability and speed of development. The solution here is the Low-code technology, with which you can significantly simplify and speed up the creation of new tools from an idea to already working functionality.

2. Importance of data analysis

For business development, industry players have long used data analysis related to all production processes. Today, there is an even more rapid increase in investment in technologies related to the collection and analysis of information. Experts predict even more increases in the cost of digitalization and solutions in the field of AI, as more enterprises realize the value of data.

Investments in the industrial sector are aimed at two aspects: automation of production through AI, as well as technological solutions that provide executives with complete information about the company’s performance and state of affairs. If the technology opens up access to advanced analytics, combines data on a single platform and automates key processes, manufacturers are more likely to invest.

The CRM system for production does not have to be analytical one, but does have to provide an open API and other flexible integration with any data and analytics systems, including BI, ERP, and MDM. The Low-code CRM system allows you to integrate easily with any system; it can act as a single interface that includes all the analytics you need for a sales manager.

3. Ethical production

Growing pressure from consumers, regulators and shareholders has prompted many manufacturers to review their business processes. Today, companies need to take care of employee safety, product quality and customer satisfaction. Many executives have already made their businesses more sustainable and ethical through investments in innovative practices and smart solutions. This trend will be relevant in the future.

4. Focus on consumer requests

One of the conditions of the modern market is the increase in expectations of customers from the companies they cooperate with. Most consumers insist on transparency of interaction, reducing cost, improving the quality of products and services, fast delivery. For the company to meet these demands, all manufacturing processes must accelerate while becoming more efficient. And one of the priority areas is to make interaction with customers.

Most often, companies are ready to invest in technologies that optimize production processes and their planning, as well as make communication with consumers faster and more efficient. Manufacturers that take into account consumer requests can stand out from competitors.

The importance of automating business processes is also that they can eliminate the information gap between the commercial and production areas. It can arise at the stage of preparing a proposal, when interacting with a potential client – precisely when the speed of communication is critical for the development of the company. You can also use pre-configured business processes to monitor contract execution at all stages of your work.

5. Advanced R&D

New technologies such as cloud computing, robotics and AI have simplified research and development processes, including making it possible to create prototypes and digital twins, and facilitated testing processes. The ability to develop and test a product virtually, and then improve it to meet specific needs, allows manufacturers to reduce time to market and provide immediately a high-quality product.

In the near future, investments in R&D technologies (research and development work) will increase sharply, manufacturers will take advantage of these technologies.

6. Attention to supply chains

Customer expectations for fulfillment of orders and delivery times have changed thanks to corporate giants such as Ozon, Wildberries, SberMarket, etc. Supply chain management is no longer an afterthought: smart chain management is needed to meet customer expectations and grow competitiveness.

To take a market lead, manufacturers need technology to support the supply chain – including AI, smart sensors, data analytics and blockchain – business will have to invest heavily.

By Maria Ilyina, Product owner ELMA365 CRM

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